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Canacol Energy Ltd (Alberta) T.CNE

Alternate Symbol(s):  CNNEF

Energy Oil & Gas E&P
Canacol Energy Ltd. is a Canada-based natural gas exploration and production company with operations focused on Colombia. The Company’s production primarily consists of natural gas from the Esperanza, VIM-5, VIM-21 and VIM-33 blocks located in the Lower Magdalena Valley basin in Colombia. Its production also included crude oil from its Rancho Hermoso block in Colombia (Colombia oil). It supplies approximately 17% of the country’s gas needs and more than 50% of the Caribbean Coast’s gas demand. Its gas fields which produce from the Cienaga de Oro and Porquero proven reservoirs are connected to its central Jobo gas processing and treatment facility through more than 169 kilometers of flow lines, mainly flexible steel flow lines. The Company operates over 1.5 million net acres in 11 exploration and production gas contracts in Colombia, located in the Lower & Middle Magdalena Basins. Its natural gas processing and treatment facilities consist of three plants.


TSX:CNE - Post by User

Canacol Energy Ltd (Alberta)
Bullboard Posts
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(1)
•••
Comment by peruchocanuckon Nov 18, 2011 4:07pm
383 Views
Post# 19249886

RE: VMM3 Confusion

RE: VMM3 ConfusionSo many names involved:
Petrolera Monterrico SA Sucursal Colombia
Green Power (same as Petrolera Monterrico?)
Petroamerica (previously known as Imore SA.) (also the same as Monterrico?)
Carrao (Apparently incorporated just a few weeks ago-at least the colombian subsidiary-, with no history online)
Canacol
I have seen this kind of deals before: "working interests" or "participator" can mean just a MOU or a LOI signed....JVs within JVs, etc.
This all smell like a lot of lawyers involved....be careful people,  Canacol may be issuing more than 103 million extra shares for just a couple of MOUs...and your "working interest" can be kicked out really quick with just a signature on a piece of paper...
Until all this mess is cleared out, I'm out (Dragon's Den style)
Actually I'm not out since I dont hold any shares at the moment, I'm just watching on the sidelines...
Bullboard Posts
Dealroom for high-potential pre-IPO opportunities